Honda Taking $53M Charge for Recent Recalls
Honda is preparing its books for additional recall charges.
The Japanese automaker has said that it will book $53 million in additional recall charges for vehicles, including the recent Fit recalls in the U.S. and the Vezel SUV in Japan. The recall was announced last week and covered about 426,000 vehicles in Japan, involving flaws in ignition coils and electrical circuits.
SEE ALSO: Honda CEO’s Pay Cut 20 Percent Following Fit Recalls
That marked the fifth recall for the Fit and the third for the Vezel this year alone and resulted in Honda’s President Takanobu Ito and other executives taking a pay cut. In the past year, recalls have cost the Japanese automaker nearly $93 million.
GALLERY: 2015 Honda Fit
[Source: Automotive News]
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Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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